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Maritime Drills 41.6 gpt Gold over 6.3 Metres Including 127.5 gpt Gold over 2 Metres at Its Hammerdown Gold Project
Toronto, Ontario--(Newsfile Corp. - January 27, 2025) - Maritime Resources Corp. (TSXV: MAE) (OT...
About this update from New Found Gold Corp
[{"type":"text","content":"Maritime Drills 41.6 gpt Gold over 6.3 Metres Including 127.5 gpt Gold over 2 Metres at Its Hammerdown Gold ProjectToronto, Ontario--(Newsfile Corp. - January 27, 2025) - Maritime Resources Corp. (TSXV: MAE) (OTC Pink: MRTMF) (\"Maritime\" or the \"Company\") is pleased to announce initial drill results from a definition drill program underway at its Hammerdown Gold Project. Hammerdown is located in the Baie Verte mining district of Newfoundland and Labrador, near the towns of King's Point and Springdale. Highlights:41.6 grams per tonne (\"gpt\") gold (\"Au\") over 6.3 metres, including 127.5 gpt Au over 2.0 metres in drill hole HDGC-24-038 with rare sub-millimetre visible gold11.1 gpt Au over 13.1 metres, including 24.3 gpt Au over 3.3 metres in drill hole HDGC-24-0066.8 gpt Au over 17.0 metres, including 30.6 gpt Au over 2.0 metres in drill hole HDGC-25-10426.0 gpt Au over 0.7 metres in drill hole HDGC-24-00317.4 gpt Au over 1.0 metres in drill hole HDGC-24-01544.5 gpt Au over 0.2 metres in drill hole HDGC-24-004\"The grade control drill program is providing additional geological information within the first year of proposed mining at the Hammerdown open pit project and is one of the final de-risking steps as we prepare for development,\" comments Garett Macdonald, President and CEO. \"The high-grade gold mineralization occurs just below surface and demonstrates the potential to generate significant cash flow quickly from the project. Work to recommission our Pine Cove processing plant is well advanced which will begin processing existing stockpiled material in the next couple of weeks. Having an operational process plant provides a clear, low capital cost path to cash flow for the Company.\" Discussion of ResultsThe mineralized zone seen in drill hole HDGC-24-038 returned 41.6 gpt Au over 6.3 metres, including 127.5 gpt Au over 2.0 metres with typical Hammerdown style quartz veining and pyrite. This zone is located approximately 30 metres south of the historic Hammerdown underground mine workings in an area that was never mined by Richmont and is open to the north-east where there is potential to expand the mineral resource. Deeper in the same hole another interval grading 3.5 gpt Au over 3.0 metres was collected resembling the nearby Wisteria zone, characterized as a thick zone of quartz feldspar porphyry mineralization with...